In an ideal world, every business would exchange contracts for goods and services, and the people or organisations carrying out that work would pay on time. Unfortunately we don’t live in an ideal world, and late or non-payments can be a time consuming and frustrating part of day to day working life.
The debt recovery industry exists to offer advice and debt recovery solutions to individuals and businesses, and there’s also something called the Prompt Payment Code that will offer peace of mind. Supported by, and involving, some of the biggest financial and business organisations in the country, the prompt payment code is a best practice model that encourages prompt payments between suppliers and organisations.
Companies, or sole traders that successfully sign up to the code, are publicly stating their commitment to paying within specified payment terms, and putting into practice a process for issues or disputes, should they arise. Businesses that are interested in signing up to the code will find it an easy and straightforward process. Some form filling and references are required, and once approved, the business will be listed on the website.
Defined terms, and clear processes can only help customers and suppliers feel more confident, and create stronger relationships between them. Something like the prompt payment code can make a difference to the business community, while should problems arise, you can also take confidence in the business debt collection services offered by experienced agents and solicitors.
Debt recovery agents can help with late payment demands and other letters to try and recover your debt, and can also assist with various court procedures, and choosing the right course of action for your dispute.
Best practices and professional help mixed together make a difference in a world where debt is still running rife through the business community.
The Article is written by thomashiggins.com providing debt collection and business debt recovery. Visit http://www.thomashiggins.com for more information on thomashiggins.com Products & Services.
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